Question

Show how the following transactions will affect the Accounting Equation :

a. Abhay started business with cash Rs.60,000; goods Rs. 30,000 and furniture
Rs.10,000
b. Purchased goods from Hridya for Rs.30,000 of which payment of Rs.18,000 was
made in cash
c. Opened bank account with PNB by depositing Rs. 10,000
d. Sold goods costing Rs.40,000 at a profit of 25% to Gurneel and one-fourth payment
was received by cheque
e. Paid commission to salesman Rs. 3,000; Rs,500 still due
f. Bought Samsung tablet for personal use Rs.10,000
g. Depreciation charged on furniture @ 5%
h. Interest charged on drawings @ 6%
i. Goods worth Rs.500 were given as free samples
j. Cash paid to creditors Rs. 11,500 in full settlement.

Answer 1

Answer:

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Explanation:

you should question step by step not like this because it is difficult to understand